Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The new productions manager for Speakers and Company, needs to find out which varlable most affects the demand for the company's line of Etuetooth speakers.
The new productions manager for Speakers and Company, needs to find out which varlable most affects the demand for the company's line of Etuetooth speakers. The manoger is uncertain whether the unit price of the product or the effects of increased marketing are the main drivers in sales and wants to use regression analysis to figure out which factor drives more demand for its particular market. Pertinemt information was collected by an extensive marketing project that fasted over the past 12 years bear 1 is data from 12 years ago) and was reduced to the data that follow Q. Perform a regression analysis based on these data using Excel Note: Negative volues should be indicoted by o minus sign, Round your answers to 4 decimal ploces. c. Predict average yeaily speaker sales for Speakers and Company based on the regression results if the price was $296 per unit and the amount spent on advertising (in thousands) was $99 ? Note: Enter your onswer in thousands. Do not tound intermediate calculations. Round your answer to the nearest whole number
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started